While the broader cryptocurrency market recently took a nosedive, some mysterious Ethereum whale successfully escaped with $41 million worth of ETH. Days later, the price of ETH went down, along with BTC and other cryptocurrencies. Did this whale know something the rest of the market didn’t? Ethereum Whale Sells $41 Million Before Market Crash In
Month: August 2023
On the latest episode of Macro Markets, analyst Marcel Pechman explains the impacts of the United States Federal Reserve’s balance sheet, breaking down how the Fed inflated its assets by $5 trillion between December 2019 and April 2022. Pechman notes that the expansion period coincides with a 38% crash in the S&P 500 index. Moreover,
The United States Securities and Exchange Commission (SEC) is likely to approve multiple applications for Ether futures exchange-traded funds (ETFs) at the same time, the Wall Street Journal reported, citing sources familiar with the matter. Since July, the regulator has been flooded with applications from several investment firms, including requests combining futures Bitcoin (BTC) and
DappRadar has pointed to an “alarming plunge” in Bitcoin Ordinals nonfungible token user activity, with trading volumes tanking around a whopping 98% since May. In an Aug. 17 report, DappRadar highlighted its data showing that the total Bitcoin Ordinals sales volume had decreased from peak levels of $452 million in May to roughly $3 million
A crypto whale holding massive amounts of Ether (ETH) sold $41 million worth of the asset a few days before the market crashed, avoiding a potential $5 million loss. The trade was flagged by the blockchain analysis platform Lookonchain which follows and shares what they consider to be smart trades. On Aug. 18, the crypto
Australia-based crypto lender Helio Lending has been sentenced to a non-conviction good behavior bond for a year for falsely claiming it had a local credit license. On Aug. 17, the Australian Securities and Investments Commission (ASIC) said Helio was sentenced to the good-behavior bond for a year, having to pay $9,600 (15,000 Australian dollars) if
Welcome to Finance Redefined, your weekly dose of essential decentralized finance (DeFi) insights — a newsletter crafted to bring you the most significant developments from the past week. Over two weeks after Curve Finance’s multiple pool exploits, the DeFi protocol has assured the hack victims that it is assessing each impacted user for reimbursement. This
The United States Securities and Exchange Commission (SEC) has officially filed a motion to certify an interlocutory appeal in the ongoing legal battle against Ripple Labs and its executives. The motion, submitted to the court, requests certification for two key holdings in the court’s summary judgment order issued on July 13, 2023. Legal Showdown With
Bitcoin (BTC) stayed near two-month lows at the Aug. 18 Wall Street open as markets came to terms with extreme liquidations. “Drying liquidity” costs BTC price key support Data from Cointelegraph Markets Pro and TradingView showed BTC price action tracking sideways after a single daily candle spawned 8% losses. The largest cryptocurrency saw a cascade
Multichain bridging protocol LiFi has launched a multi-message aggregator for decentralized autonomous organization (DAO) governance, according to an Aug. 17 announcement from LiFi research lead Arjun Chand. If implemented by decentralized exchanges, lending apps and other Web3 protocols, the new aggregator should help prevent governance attacks that originate from cross-chain bridges, according to the aggregator’s
Crypto exchange Binance is considering legal action against its former payment provider Checkout.com, a spokesperson for Binance told Cointelegraph on Aug. 18. The potential legal dispute arises from letters sent by Checkout.com to Binance on Aug. 9 and Aug. 11. According to a Forbes report, Guillaume Pousaz, CEO of Checkout.com, ended the relationship with Binance,
According to Bloomberg, in a key development for the cryptocurrency industry, the US Securities and Exchange Commission (SEC) is reportedly set to allow the launch of exchange-traded funds (ETFs) based on Ethereum (ETH) futures. This move marks a significant win for numerous firms that have long sought to introduce such products. While the SEC has
A tight range usually resolves with a range breakout and that is what happened in Bitcoin (BTC) on Aug. 17. Bitcoin fell sharply, resulting in a $1 billion liquidation for derivatives traders, the biggest since the FTX collapse in 2022. It is difficult to pinpoint any specific reason for the sell-off but analysts believe that the
The price of Bitcoin (BTC) fell by 11.5% from Aug. 16 to Aug. 18, resulting in $900 million worth of long positions being liquidated and causing the price to hit a two-month low. Before the drop, many traders expected a breakout in volatility that would push the price upward but this was obviously not the
The Bitcoin (BTC) and Ether (ETH) price slump on Aug .18 saw the top two cryptocurrencies fall to a 2-month low and triggered a series of liquidations for thousands of derivative traders. The crypto bloodbath led to billions of dollars worth of hedged positions being liquidated and several traders lost millions of dollars in a
While the cry for crypto regulation is becoming ever louder in much of the world, and regulation by enforcement is a controversy, a report prepared for the New Zealand Parliament has recommended a slow, agile approach. The report was commissioned by the Finance and Expenditure Committee of the New Zealand House of Representatives in 2021
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